How Banks Can Offer Financial Wellness Support Without Building Programs In-House
See how banks and credit unions offer confidential financial counseling through a nonprofit referral partner—no new in-house program required.
Manage Your Debt - Let's Explore Your Options
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The Cost of Carrying Debt
Not sure how long it may take to pay off your debt? This calculator can help you understand how interest rates affect repayment time and total costs. Enter your estimated debt balance and interest rate to compare minimum credit card payments to a lower-interest repayment scenario and see how much you could potentially save in interest over time.
Minimum Payment Path
Lower Interest Rate Scenario
Your Potential Savings
Important:For illustration purposes, minimum payments are calculated as 2.5% of the outstanding balance or $35, whichever is greater. Actual credit card minimum payment formulas vary by creditor. The Initial Monthly Payment shown is the estimated starting payment and will generally decrease as the balance declines.
Lower-Interest Scenario: The lower-interest repayment scenario uses a fixed monthly payment calculated to pay off the debt in approximately 5 years. Unlike minimum payments, this payment remains the same throughout the repayment period. This example is provided for educational purposes only and does not represent a specific loan offer or guaranteed debt management plan outcome. Interest rates on debt management plans may range from 0% to 11% or higher, depending on participating creditors and individual circumstances.
